Good evening, time for weekly analysis and starting from this week, MTC will share analysis weekly and traders may also share your opinion at our Facebook page or comment at the website.
Dollar rises on last week job report even though the result was mixed. For EURO, it was relatively good week as the manufacturing and service sector indices in the Eurozone were revised higher and retail sales increased and it pushed EURO to higher against AUD and NZD.
Next week, we are looking for some potential setup and entry in GBPUSD, NZDUSD, AUDNZD, EUZNZD and a few more.
GU is trading in a downtrend channel and bear flag forming at H1. Potential entry at the highlighted area for trend following.
NU was unable to break the resistance after few attempts. Long wicks are spotted and the failed breakout may lead to price to the highlighted are and we are looking for entry for early trend following.
Lower high and lower low is spotted at AN. However, price was rebounded from weekly support and was showing some good upward momentum on friday. We are expecting a breakout to uptrend but we will wait for confirmation for the signal.
EN is trading in a consolidation zone. Further weakened of NZD might lead to breakout of EN from the zone. We will wait for breakout and retest for our entry.
GJ is trading at multiple weeks resistance and we are expecting a small pullback before the price can break the resistance. However, if the price fail to break the resistance then we might see a significant retracement since GBP shows sign of weakness.
Tips : Set your price alert and avoid yourself being glued to the screen and make bad trading decision.
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